How to reduce PayPal fraud payments?
Hello everybody.
In short we get payments from stolen debit/credit cards for purchasing our online services. When the card holder understands what is going on PayPal puts the money on hold and we don't have any chance.
Started to refund the payments and even after refund (which even does 5% loss) we sometimes get chargeback fees of $20!
Can somebody give some ideas to prevent this. The ratio of real/fraud payments is like 50/50 which reduces our profits a lot...
Any ideas?
Thanks
How to reduce PayPal fraud payments?
Go to the Resolution Center.
Click Report a Problem.
Select the transaction you want to dispute.
Click Continue.
Select either I didn't receive an item I purchased or the item I received was significantly not as described or I want to report unauthorized activity, depending on the nature of your dispute.
How to reduce PayPal fraud payments?
There are several steps you can take to reduce the risk of PayPal fraud payments:
1)Enable two-factor authentication: Two-factor authentication adds an extra layer of security by requiring a code in addition to your password to access your account.
2)Use strong and unique passwords: Strong passwords that are difficult to guess and unique to your PayPal account can help prevent unauthorized access.
3)Monitor your account regularly: Keep an eye on your PayPal account for any suspicious activity, such as unexpected transactions or changes to your account information.
4)Avoid clicking on links in emails: Scammers may send emails that appear to be from PayPal, but actually contain links to fake websites designed to steal your information. Always log in to your account directly through PayPal's website to avoid falling for these scams.
5)Use a payment gateway with fraud protection: Consider using a payment gateway that offers fraud protection, such as PayPal's Fraud Management Filters, to help detect and prevent fraudulent transactions.
6)Educate yourself and your employees: Make sure you and your employees are aware of common PayPal fraud scams and how to avoid them.
By following these steps, you can help reduce the risk of PayPal fraud payments and protect your account from unauthorized access.